Accountıng I Çıkmış Sorular, Online Deneme Sınavları, Çalışma, Dersler, Sınava Hazırlanma, vize, final

Soru 1:

Which of the following are TRUE about balance sheet ? I. It details the change in owner’s equity over an accounting period. II. It reports the assets, liabilities, and owner’s equity of the business at a specific date. III. It shows the change in cash position of the company over an accounting period. IV. It reports the revenues and expenses and resulting net income or loss.

A) I B) II C) III, IV D) IV E) I, IV

Soru 2:

Which of the following described as "Economic resources that are expected to benefit the business in the future"?

A) Assets B) Liabilities C) Equity D) Income E) Cost

Soru 3:

Which of the following require that the recorded monetary amount of the asset should be revalued at reporting date?

A) Historical cost principle B) Fair value principle C) Materiality D) Monetary unit assumption E) Relevance

Soru 4:

I. Standards generally use one of two main principles in measurement: historical cost principle or fair value principle. II. The fair value principle dictates that assets and liabilities should be reported at their fair values. III. Assets are recorded at their cost when acquired by the company and this value stays same over the time according to the historical cost principle. Which of the given is TRUE about measurement principles?

A) Only III B) I & II C) I & III D) II & III E) I, II & III

Soru 5:

............... reports each asset, liability and owner’s equity in specific sections.

A) Classified balance sheet B) Income statement C) The statement of owner's equity D) Adjusted trial balance E) Closing entries

Soru 6:

Entering transaction data in the journal is known as .................... . According to text,which of the following should be the dotted line?

A) Journalizing B) Journal C) Transactionizing D) Ledger E) Debiting

Soru 7:

Which of the below is NOT a part of owner's equity statement ?

A) Opening balance B) Relevance C) Net income or loss D) Transactions with owner(s) E) Closing balance

Soru 8:

"Depreciable amount is ................" Which of the following appropriately completes the sentence above?

A) the cost of an asset, or other amount substituted for cost, less than its residual value B) the systematic allocation of the depreciable amount of an asset over its useful life. C) the estimated lifespan of a plant asset. D) indefinite useful life of the production. E) a contra asset account during the useful life of depreciable asset.

Soru 9:

Which of the following is not true about accrual basis accounting?

A) Companies record the impact of a business transaction as it occurs. B) The moment companies perform a service, the transaction is recorded. C) Companies record only when they receive a cash. D) Companies record revenues when they are earned. E) Companies record expenses when they are incurred.

Soru 10:

Which of the following is an asset account?

A) Prepaid expenses B) Unearned revenue C) Owner’s Capital D) Revenues E) Expenses

Soru 11:

Why you need to know accounting?

A) forcing the state B) to give tax C) to earn money D) to make effective and efficient decisions E) to prepare a financial statement

Soru 12:

Which one of the following describes a debt owed without note?

A) Cash B) Accounts Receivable C) Notes Receivable D) Prepaid Expenses E) Buildings

Soru 13:

Wihch one of the following describes a debt without note?

A) Unearned Revenue B) Accounts Receivable C) Accounts Payable D) Notes Payable E) Notes Receivable

Soru 14:

Accountants assume that the business will remain in operation long enough to use existing assets for their intended purpose. Which of the following assumption is the reason for this?

A) Going concern B) Economic entity C) Monetary unit D) Faithful representation E) Relevance

Soru 15:

Accounting system includes three kinds of basic activities which are .............., ............. and .............. of the financial transactions of an entity to interested users. What are these three basic activities?

A) identifying, reviewing, communicating B) identifying, recording, communicating C) assests, recording, communicating D) identifying, recording, liabilities E) identifying, bookkeeping, liabilities

Soru 16:

Think about a company has total assets of 300 million TL. The company has used owner’s equity to finance 30% of its total assets. Which of the following is the amount of this company's liabilities?

A) 90 million B) 150 million C) 180 million D) 210 million E) 270 million

Soru 17:

Which of the following is not true about cash basis accounting?

A) Companies record revenues when they provide a service. B) Companies record expenses when the cash is paid. C) Cash basis accounting records only cash transactions. D) It prevents businesses from being cautious. E) Companies focus only transactions which involve cash.

Soru 18:

Which item or items is/are reported on the balance sheet?

A) İnventory B) Account Payable C) Account Receivable D) Retained Earnings E) All of the above

Soru 19:

The company will receive assets (for example, cash) in exchange for goods sold and services rendered. Therefore, company’s assets and owner’s equity will increase. What is the increase in owner’s equity created by delivering goods or services to customers is called?

A) Revenue B) Assets C) Expenses D) Capital E) Withdrawal

Soru 20:

In ______________, revenue is recognized after the cash is received. Which of the following completes the statement above?

A) revenue recognition principle B) accrued revenue C) accrued expense D) deferred revenue E) matching principle